Check out the companies that made headlines in pre-market trading.
target — The retailer gained 0.6% after it said it would raise its dividend by 1.9%, or 2 cents, to $1.10 a share.
Cognyte software — Shares rose 5.6% in premarket trading after the software company’s quarterly report. Cognyte reported a loss of 23 cents per share excluding items, slightly more than the 22 cents consensus estimate of analysts polled by FactSet. However, revenue was stronger than expected, with Cognyte reporting $73.4 million versus Wall Street’s forecast of $71.5 million.
Aldeyra Therapeutics — The biotech stock added 10% after Aldeyra reported statistical significance in the primary and all secondary endpoints for a drug that could be used for a type of eye inflammation.
American Express — Shares of the credit card company fell 2% in premarket trading after Citi warned that credit card spending trends have slowed. Citi opened a negative catalyst watch for American Express, warning travel and entertainment categories are slowing more than other categories.
Coinbase — The crypto platform fell 4.5% after Mizuho asked if traders were switching to Robin Hood, which was down 2.1% before the bell. Mizuho reiterated its underperform rating in a note to clients.
Domino’s Pizza — The pizza chain rose 2.1% after the upgrade. buy from hold from Stifel. The company noted that delivery revenue will continue to stabilize, while delivery revenue will increase over the next 12 months.
SoFi — Shares fell 4% after Oppenheimer downgraded the financial technology stock to outperform. Despite a long-term bullish run, Oppenheimer said the downgrade came after a period in which the share price had seen much stronger appreciation than that seen in the broader market.
Corning — Shares after adding 1.7%. enhanced Citi to purchase from neutral. The Wall Street firm said it had “greater confidence” in the potential for the glass maker’s margin recovery and raised its price target to $40 from $36, suggesting a gain of more than 20% from Wednesday’s close.
Zions Bancorporation — The bank’s shares fell 1.4% in the premarket. Janney downgraded Zions Bancorporation to neutral from buy and cut its fair value estimate, saying it sees weaker earnings from spreads and margins on rising funding costs.
— CNBC’s Sarah Min, Michelle Fox and Jesse Pound contributed reporting.